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Addex Pharmaceuticals enters into Collaboration with Ortho-McNeil Pharmaceutical to Develop Novel Treatments

18 Jan 2005 - Addex Pharmaceuticals announced that it has entered an exclusive worldwide research collaboration and licence agreement with Ortho-McNeil Pharmaceutical, Inc. to discover, develop and commercialize novel compounds modulating allosterically G-Protein Coupled Receptors for the treatment of anxiety, depression, schizophrenia and Alzheimer's disease. The initial drug discovery research will be conducted both at Addex and at Johnson & Johnson Pharmaceutical Research and Development (''J&JPRD''), a division of Janssen Pharmaceutica NV.
 
Through a joint steering committee, Addex and J&JPRD will collaborate in all phases of research and development up to clinical proof of concept. Addex' expertise in allosteric modulator pharmacology will be combined with the recognised expertise of J&JPRD in the fields of psychiatry and neurology. Allosteric modulators are expected to have greater selectivity, which may give them a significant competitive advantage in the treatment of anxiety, depression, schizophrenia and Alzheimer's disease.
 
Under the terms of the agreement, Ortho-McNeil will pay Addex an upfront fee and research funding for 2 years. In addition, Addex will be eligible for payments on successful achievement of pre-specified scientific, clinical and regulatory milestones, and royalties on product sales.